Amicas Inc.'s (AMCS) board has deemed a $224.9 million
acquisition offer by Merge Healthcare Inc. (MRGE) to be superior to
the company's December agreement to be bought by private-equity
firm Thoma Bravo LLC.
Amicas said it will terminate its merger agreement if it doesn't
reach a better deal with Thoma Bravo in five business days. Shares
of Amicas jumped 1.9% to $5.98 in recent premarket action.
Amicas said Merge's offer last week of $6.05 is superior to its
December agreement with Thoma Bravo's bid of $5.35. Amicas, which
makes radiology, medical-imaging and information-management
products, also said it is pushing back its special meeting of
shareholders from this coming Thursday to Mar. 16.
Amicas had previously been critical of Merge's offer, at one
point calling the bid "highly conditional." But Merge, which
develops software products that automate health-care data, later
said the bid was fully financed and backed by firms including
Morgan Stanley (MS).
Shares of Merge closed Friday at $2.15 and were inactive
premarket.
-By Nathan Becker, Dow Jones Newswires; 212-416-2855;
nathan.becker@dowjones.com